Aramark Holdings Corp. (ARMK) Updates FY17 Earnings Guidance
Aramark Holdings Corp. (NYSE:ARMK) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.85-1.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.91.
A number of research firms have recently weighed in on ARMK. Zacks Investment Research raised Aramark Holdings Corp. from a sell rating to a hold rating in a report on Tuesday, October 25th. Macquarie started coverage on Aramark Holdings Corp. in a research note on Thursday, August 25th. They issued an outperform rating and a $44.00 price target for the company. RBC Capital Markets reaffirmed a top pick rating and issued a $42.00 price target (up previously from $40.00) on shares of Aramark Holdings Corp. in a research note on Saturday, August 13th. Morgan Stanley set a $41.00 price target on Aramark Holdings Corp. and gave the company a hold rating in a research note on Thursday, August 11th. Finally, Bank of America Corp. boosted their price target on Aramark Holdings Corp. from $38.00 to $43.00 and gave the company a buy rating in a research note on Thursday, August 11th. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $41.08.
Shares of Aramark Holdings Corp. (NYSE:ARMK) opened at 33.15 on Wednesday. The company has a market capitalization of $8.09 billion, a PE ratio of 31.57 and a beta of 0.58. Aramark Holdings Corp. has a 12-month low of $29.18 and a 12-month high of $38.30. The stock’s 50 day moving average price is $36.94 and its 200 day moving average price is $35.60.
Aramark Holdings Corp. (NYSE:ARMK) last posted its quarterly earnings results on Tuesday, November 15th. The company reported $0.49 earnings per share for the quarter, hitting the consensus estimate of $0.49. The company earned $3.54 billion during the quarter, compared to the consensus estimate of $3.67 billion. Aramark Holdings Corp. had a return on equity of 18.92% and a net margin of 1.81%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS. On average, equities research analysts forecast that Aramark Holdings Corp. will post $1.70 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of ARMK. Sei Investments Co. increased its position in Aramark Holdings Corp. by 402.8% in the second quarter. Sei Investments Co. now owns 161,235 shares of the company’s stock valued at $5,388,000 after buying an additional 129,169 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. bought a new stake in shares of Aramark Holdings Corp. during the second quarter worth about $107,000. Alliancebernstein L.P. boosted its stake in shares of Aramark Holdings Corp. by 28.5% in the second quarter. Alliancebernstein L.P. now owns 170,801 shares of the company’s stock worth $5,708,000 after buying an additional 37,900 shares during the period. GAM Holding AG boosted its stake in shares of Aramark Holdings Corp. by 206.7% in the second quarter. GAM Holding AG now owns 82,509 shares of the company’s stock worth $2,758,000 after buying an additional 55,604 shares during the period. Finally, Tredje AP fonden bought a new stake in shares of Aramark Holdings Corp. during the second quarter worth about $874,000. Institutional investors own 94.38% of the company’s stock.
About Aramark Holdings Corp.
Aramark provides food, facilities and uniform services to education, healthcare, business and industry, and sports, leisure and corrections clients. The Company operates through three segments: Food and Support Services North America (FSS North America), Food and Support Services International (FSS International) and Uniform and Career Apparel (Uniform).
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